American International Group Inc. Decreases Holdings in PBF Energy Inc. (NYSE:PBF)

American International Group Inc. trimmed its stake in PBF Energy Inc. (NYSE:PBF) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 197,485 shares of the oil and gas company’s stock after selling 4,037 shares during the quarter. American International Group Inc. owned approximately 0.17% of PBF Energy worth $11,369,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in PBF Energy by 95.3% during the 1st quarter. GAMMA Investing LLC now owns 459 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 224 shares in the last quarter. Rise Advisors LLC purchased a new stake in PBF Energy during the first quarter valued at about $27,000. Creekmur Asset Management LLC purchased a new position in shares of PBF Energy during the 4th quarter valued at about $29,000. Fifth Third Bancorp raised its stake in shares of PBF Energy by 30.4% during the first quarter. Fifth Third Bancorp now owns 953 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 222 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in PBF Energy in the 4th quarter worth $73,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PBF shares. JPMorgan Chase & Co. lowered their price target on shares of PBF Energy from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Wells Fargo & Company lowered their price objective on shares of PBF Energy from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, June 6th. Piper Sandler lowered their price objective on PBF Energy from $54.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Mizuho lowered their target price on shares of PBF Energy from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Finally, The Goldman Sachs Group dropped their target price on PBF Energy from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $54.30.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital bought 200,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were bought at an average price of $45.37 per share, for a total transaction of $9,074,000.00. Following the purchase, the insider now owns 14,824,198 shares in the company, valued at $672,573,863.26. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders purchased 2,091,100 shares of company stock worth $93,004,617. 5.30% of the stock is owned by company insiders.

PBF Energy Stock Performance

PBF stock traded up $0.79 on Wednesday, hitting $39.02. The company had a trading volume of 2,312,836 shares, compared to its average volume of 2,042,177. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 2.70 and a beta of 1.60. PBF Energy Inc. has a 12-month low of $37.62 and a 12-month high of $62.88. The company has a current ratio of 1.54, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. The stock’s 50-day simple moving average is $44.57 and its 200 day simple moving average is $49.14.

PBF Energy (NYSE:PBF) last released its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.24. PBF Energy had a return on equity of 18.47% and a net margin of 4.95%. The business had revenue of $8.65 billion during the quarter, compared to the consensus estimate of $8.29 billion. As a group, equities research analysts expect that PBF Energy Inc. will post 3.19 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.56%. The ex-dividend date was Wednesday, May 15th. PBF Energy’s dividend payout ratio is presently 6.92%.

About PBF Energy

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.